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't have too much vacation or little. we do it just right. europe had work like we did. you want lopping beer vacation you can have a stagnant economy like europe. we raise taxes we'll have longer vacation but fewer jobbings. >> you are right. we don't want to be like the french. and people here in the united states and government union. and i was on vacation and check my blackberry and read a rick unger e-mail while on vacation. >> you are never on vacation. >> you work it anyway. nine out of the 10 are checking their work phones. any time to rejuvenate and come back ragged. >> we need that vacation time to work better. >> when you say economy you are talking about gdp. good or ill it is major transaction. have everyone never talk a day off and work 60 hours a week. steve is protesting that. >> there is it a correlation between vacation time and increased productivity. a 2010 study show that americans felt refreshed and better about their jobs coming back it is important to take breaks throughout the work die. >> i center to tell you, i don't think i had a year where i used up all of my
in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff beca
's what is scary. the backdrop of the presidential year was europe. we know where this path leads. all this turmoil, the huge welfare and the low productivity and high unemployment that comes along with them, that was the backdrop of the presidential campaign. voters voted, and they said, yes, we are going to keep moving in that direction, kim. where do you think the electorat is here? is it be ibd hue the choices that -- is it behind the choices that jason suggested they might be? >> barack obamaus won this election by very effectively making this a referendum about his opponent, mitt romney. if you went out and asked most americans, do you think barack obama did a great job in his first term? do you want significantly higher taxes? do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a president who said things aren't great, but i'm going to still try to make them better, and a guy who he painted as not having a plan and not identifying with the average wants and needs of most middle class ame
previously thought, although the session still looks very much on course for another quarter here for europe. the pmi will rise above 50 that divides growth between contraction. hasn't stopped the euro/dollar from hitting a one and a half month high. i suppose we know growth is going to be anemic, but if spanish banks are getting some money, are we feeling slightly better? >> that's what euro trades on, isn't it? pmis are all very interesting for the economist. but they want bigger stories. most of the news flow, it's helpful to the euro. people have been trying to affect this rally for a while. we are close to those october highs. the news flow has been good, i would say. >> we hit, what, nearly 131.80? >> before that, we go 131.40. the enthusiasm for euro is surprisingly good. we're surprised by how far this rally has gone on pretty thin news sometimes. >> i just want to recap what we've got. eurozone finance ministers meeting in brussels. an agreement still seems pretty elusive at this moment. germany and french finance ministers have very different views about oversight of banks. and in
. europe has also been a blend of red and green as the ft names ecb chief the person of the year. we're going to kick off with breaking news. for that would, we go to david faber. >> news on best buy, in the news yesterday. the stock up sharply. what we can tell you right now is the board of directors of best buy, and its founder, richard schultz, has been trying to put together a group to essentially buy the company in a go private transaction, have extended the deadline in which he would need to come with a bid for best buy and created a window in fact that will begin on february 1st next year and end with the end of that month on february the 28th. giving schultz the opportunity to look at not just christmas sales, but the end of their fiscal year, which will end at best buy on the 31st of january. and that window, again, will be 28 days long giving him an opportunity to continue to try to cobble together a bid with private equity firms and those who might finance a potential bid for the company at whatever price that might come at, if it were in fact to come at all. no word in te
in europe, that still, you know, is simmering beneath the surface. >> rose: we conclude this evening with matt damon and john krakinski, two of the actors in gus van sant's new movie, "promised land". >> the biggest conversation matt and i can have is it starts conversation, beyond the issue of grabbing in the vernacular right now, to us it is the decision of communities gathering together and realizing that they have a voice and a responsibility to sort of unite and engage in these issues that are happening each day and deciding for themselves whether they want it. >> i forgot what it was like to start from, you know, the open laptop and that was just really fun, i just, my wife said to me in the middle of the whole thing, she says no matter what happens if you never make this movie, i haven't seen you this happy, at least remember how much fun it is to write. >> rose: a look at the economy and a look at the movies when we continue. funding for charlie rose was provided by the captioning sponsored by rose communications from our studios in new york city, this is charlie
a soft landing. then what about europe? i've seen some people touting europe. if you look at the financial fear indicators in europe, that crisis is basically over. >> well, yes, it is. i don't know if you can capture in the frame on the camera. what i'm doing here, i'm patting myself on the back. who is it who's been telling your viewers for two years every time there's one of these trumped-up crises in europe to buy it. now there's been a solution. europe has been stabilized. it's actually the brightest place for investors on the planet. i'm sorry you missed the bottom but it's not too late. you look at after hearing that segment on the u.s. government making the decision to debase paper coins by turning them into -- paper money by turning them into junk disposable paper coins? well what would you rather own? the ten-year american bond, treasury bond yielding what, 1.6%? or would you rather have a spanish bond denominated in the strongest currency in the world, the euro, paying 5.5%? i'll take spain over the united states at this point any day. >> all right. >> so don't
of this you focus on what happens internationally and china continues to recover. europe looks like it's stabilizing and we didn't change our strategy based on the news, just a little bit more of what you're doing. >> randy, anything change for you? >> no, not really. what we're watching is the parallels that occur now, where we stood with the fiscal cliff and where we stood in 1999 with the y2k situation. we borrowed a lot of growth in 1999 from 2000, and that led us to a recession. we're looking at the same thing now. we're seeing people have accelerated dividends, pre-payments, seeing a lot of companies that single proprietors are paying themselves this year in anticipation of higher rates. >> it's interesting that you point that out. it could be argued at the same time that we're delaying growth until next year because of the number of companies that have delayed hiring or capital expenditures because of the uncertainty about the fiscal cliff. >> yeah. well, uncertainty, unfortunately, is perhaps going to continue with this because the regulations are not going to go away there. ma
slowly than they would like to, if at all. europe is basically flat, the u.s. is improving, but it is not exactly galloping and, you know, we are entering probably a weak quarter where people are hoping it will be stronger over the course of the year, china is slowing some and in general all of the emerging markets are slower than they were most of them india has slowed dramatically, brazil is slow, so yes, indeed it is a fragile situation, when the u.s. is one of the bright spots, you know, eking out make two percent growth, one percent growth this quarter you know things aren't very good. >> rose: do you expect to see, speaking of the united states, growth rate getting back close to four percent? >> well, you know, it is in the realm of possibility, but i think the trend growth rate, you know, is going to be more on the order of two and a half and i mean some days some quarters it will be worse than that, some quarters it will be better than that. there are many private forecasters calling for it to be three percent by years end, i think we are doing pretty well if that h
to allow the world to pass them by or be bound by the confines of a weak europe including germany appears to be on the brink of recession. the last quarter was fabulous, best in its history. stocks a half a point off its high. terrific 51% gain since i got behind it on august of 2011. it's not done. i think it has room to run. let's check in with bill mcdermott, the ceo of s.a.p. welcome back to "mad money." >> good to see you, jim. >> best third quarter in history. >> yes. >> how is it possible? >> we're focused on the nexus of force as you mentioned. when we put the strategy of the company together we were determined to double the addressable market. where's the world going? it's going mobile. do you know anyone that doesn't have a mobile device? >> no. and i don't want anything else frankly. >> exactly. there's more mobile devices in the world than toothbrushes. that was good enough for us to focus on mobile. >> are you still the largest buyer of some mobile devices? >> yes, we are. i don't know if we're the largest, but we're up there. we have done a lot of work with apple no doubt ab
of markets look a little bit like this. here is europe to begin with. only a few markets are open there today. among those closed include spain and germany. we're start with asia. shanghai composite is the outperformer. you saw up 1.6% there. here is a list of the markets closed across europe. germany, switzerland, germany and austria. for the bourses that are open, we can take a look at performance this morning and then we'll take a look over at the bond wall. the ftse 100 is down about .4%. ibex down .5%. not a clear picture. definitely mixed trade as people look to close out the year. the bond wall gives the sense for what kind of wall dominates. we're seeing bond yields move higher. investors are exiting the asset class today. italy around the 4.5% level. we've seen these predominant for several weeks and likely a quick check on forrus. the yen, an important one to keep an eye on, as well. dollar/yen firmer, continuing the patterns that we've seen over the last couple of trading sessions. for more on what to expect from markets today, we're joined by chris meyer, managing director and chi
morning. all right. coming up new at 10, germany's chancellor angela merkel says europe will have to work very hard to it maintain its current standard of living. at the top of the hour, find out what she's saying about welfare and here is another development from overseas. we brought you the story last week, french actor gerard depardu, he is leaving home, leaving france because of higher taxes and handed in his passport. now, the french prime minister has some choice words for mr. depardu. he's obviously in the happy with him and find out exactly what he said at ten o'clock eastern time this morning. time is money. 30 seconds, here is what else we've got for you, an in japan, again, a landslide win, so, what's the new prime minister going to do about the world's worst debt problem? print more money and stimulate more, too. build more infrastructure. will that work? we have our own resident japan expert. question, is jeff immelt's cozy relationship with the president costing general electric shareholders money? we will be discussing it. and i lost on friday when i questioned "the washing
. >>> and the next phase of europe's crisis. which nations might find themselves split apart. i'll explain. >>> first, here is my take. arafat's body has been exhumed for investigation. bringing back memories of the unpredictable palestinian leader. the news broke at a time when a conventional wisdom has begun to take hold that the middle east today is much more dangerous, unstable, violent and anti-american than before. let's take a look at facts. in the 1980s the newly empowered radical islamic republic of iran unsettled the region with its promise to spread its revolution elsewhere. lebanon was in the midst of a bloody civil war. that engulfed itself and the palestinians and israel. iran and iraq fought a gruesome war with over one million casualties. hezbollah attacked u.s. armed forces directly forcing a humiliating withdrawal from lebanon. a cia station chief was tortured and killed, and u.s. secrets and interests compromised, and that was just in one decade. or consider those days from israel's point of view. during the 1980s, jerusalem faced well arms regimes. leading members of the rejection
states, 7% china, 5% india, negative one in europe. in that environment you want to own a portfolio of multinational companies with dividends, global exposure, it will provide as good of a return as anything else when you have bonds and cash paying so low. as long as you understand you're in the seven, 8% environment, portfolio stocks should be part of that. david: let's talk to a guy that says full speed ahead torpedoes. he thinks it will be better than this year was. saying people are confusing pickups for heart attacks in today's market to all these problems are going to seem like nothing when we come to the big gains of next year. you really think that will bear out, and how do you invest with that kinddof optimistic strategy? >> first of all what we have seen with investor sentiment is contradictory to what we've seen with consumer sentiment and business sentiment. when you see negative investor sentiment is not just in the retail side but also the institutional side creating a great potential opportunity for performance. secondly if you take a look at kicking the can down the
deal or not. futures are up and the dow gained 100 yesterday. but there is room for skepticism. europe's grappling with the same question helped by some decent uk inflation data today. and a t-bill auction in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have t
't harm the patient. right now this economy is getting weak. we've seen higher taxes have done in europe and southern europe. france and germany about going into recession. japan is already in recession. why apply the poison here. you don't put it on taxes on the economy and why put poison in the patient. i don't get it. >> i'm not for tax hikes or anything, but if you kick the can voters are never going to be ready to reform or pay for entitlement reform. don't do entitlement reform. it took two years for reagan to do entitlement reform. sell by date is long past due on these measures to fix fiscal problems. the problem is we're in economic era of falling expectations and that has to stop. >> if we kick the can for six months that gets us to midterm elections? >> yeah, but the flip side of the argument you can pass a lot of bad bills. nancy pelosi, let's pass the healthcare bill so we can see what is in it. the big thing that we need to concentrate on is getting back to 3% growth. this 2% growth, all of our fiscal problems are going to get worse. we only have a prayer of supplying more
taxes have done in europe and southern europe. france and germany about going into recession. japan is already in recession. why apply the poison here. you don't put it on taxes on the economy and why put poison in the patient. i don't get it. >> i'm not for tax hikes or anything, but if you kick the can voters are never going to be ready to reform or pay for entitlement reform. don't do entitlement reform. it took two years for reagan to do entitlement reform. sell by date is long past due on these measures to fix fiscal problems. the problem is we're in economic era of falling expectations and that has to stop. >> if we kick the can for six months that gets us to midterm elections? >> yeah, but the flip side of the argument you can pass a lot of bad bills. nancy pelosi, let's pass the healthcare bill so we can see what is in it. the big thing that we need to concentrate on is getting back to 3% growth. this 2% growth, all of our fiscal problems are going to get worse. we only have a prayer of supplying more jobs, bringing down unemployment and braying down the deficit if we have 3
at what's been happening in europe, you'll see a similar story there. actually a little stronger gains. in france, the cac up by about two-thirds of 1%. in germany, the dax up by 0.4% and ftse in london is up by a quarter percent. in asia overnight, you did see the hang seng down by about 1.2%. shanghai composite down, as well, down by 1%. in consider rea, the kospi up by 0.6%. oil prices have been a little weaker. down by about seven crept cents. and ten year note yielding 1.61%. that's been stuck in a tight range for quite a while. take a look at the dollar this morning. you'll see the euro at this point is still above 1.30, 1.3029 even though the dollar down across the board. dollar-yen at 82.10. gold prices this morning are up by about $8. as the fiscal cliff approaches, we're wondering what we can expect from the markets. our guest hosts again barry knapp and richard bernstein. barry, you're concerned about the direction the talks have taken. >> yeah, it's interesting as i actually traveled through europe last week, there is all this focus on the timing of getting a deal. but ther
the difference between the u.s. and europe has produced almost no innovation. we produce almost all of it. we pulled their growth rate up because of the success in the united states. >> eliot: jeff, i'll get to you in ten seconds. if taxes were 100%, people would theoretically sit at home. when we're talking about a rise from 35% to 39% -- >> they sit at home in europe. >> eliot:, here we have a database to say what has happened when we move them marginally from 35% to 39.6%. they were created when the rates were at 39.6%. i don't see the causation. >> i think your viewers have to be very aware of the nature of these academic studies. there have been leading economists who have looked at this inside and out. the congressional research service, i believe was asked by the republicans to take that down. they cannot find a correlation between higher tax rates and slower economic growth. just let me finish, okay? clinton raised the tax -- people like feldstein and barro to do the arithmetic will undermine economic growth, be pr
's largest trading partner, europe's economy remains on prepares you footing despite several months of relative calm and there's a growing debate abt whher e u.k should lead the e.u. earlier this month we covered the "economist" magazine read "good-bye europe, look what happened when britain left the e.u. " i'm pleased to have george osborne back on this program and back at this table. >> thank you very much. >> rose: you're in new york city for a speech at the manhattan institute. >> i did that last night and had some meetings on wall street, seeing them there later. >> rose: so what's your message about the british economy to manhattan institute as well as the mayor and wall street? >> well, the basic message is itaiis on for business. if you want to come and invest in a country that is dealing with its problems, cutting its business taxes, providing opportunities for companys to go britain is the place. i think we're doing better. >> rose: you do? >> i certainly do. >> rose: the numbers don't look like that. >> well, actually, look at the u.k. compared to many western economies,
of the things that has happened since 1989 is the region called eastern europe has become very differentiated. these countries will longer have anything in common with each other except for the common memory of communist occupation. >> more with anne applebaum, tonight at 8:00 on a "q&a." >> "washington journal" continues. host: for the latest in the so- called fiscal cliff negotiations, we are joined by stand from -- stanley collender, and we also have josh gordon. thanks to you as well. stan, you were on last week and we ask you for the percentages. you put the chance of a fiscal cliff getting done at. this week? -- gettguest: i think there is o chance other than new year's day, and even that might be overstating it a little bit. right now i am seeing a 75% chance that they will go over the cliff. host: joshua, what odds would you give? caller: i have no idea. i would say that it could be 50 -- guest: i have no idea. i would say. the thing that americans and the public should worry about is whether they get something done soon. there is a chance that by inauguration day, something will be d
and melissa lee. questions remain about the internals. europe is reacting to a miss on german industrial production and some reports at least that some ecb members favored a rate cut yesterday. our road map will go like this. that puzzling jobs number beating virtually every wall street estimate as the labor department says sandy had only a minimal effect. is it true a clean number and what are conspiracy theorists saying. >>> a comment hastings made last july. what does it say about s.e.c. rules and whether they are out of date. >> mcdonald's will post same store sales on monday gets an upgrade to buy taking the forecast to a street high after surveying franchisees. we begin with november jobs number. 146,000 nonfarm jobs added last month above forecast of 80,000. october and september payrolls were revised lower. unemployment rate fell by 0.2 to 7.7. that's the lowest in four years. the dip occurring mostly because more people stopped looking for work and were not counted as unemployed. as for hurricane sandy, the labor department says the storm did not substantively impact the novembe
the slots at heathrow. those remain the crown jewel in terms of the airline business going over to europe. if you have access to those slots, it's a much easier way to become profitable or increase your profits over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked about it several times, who is trying to take the steps that will help delta grow in the future. you look a
we gone bankrupt last year, europe would have ended. so they sent in monty to manage the situation in order for the german and french banks to get their money back. the ucb printed out -- ecb print out money used to help our banks but do not use it to finance our businesses. they give it to them buy to see buy back their debt to help french and german banks. that was monty's work. and in the meantime, our debt went up. >> reporter: and by the way, the five-star movement is number two in the polls. but he's not really a politician. he is a comedian. not kidding. he actually is a comedian. we also managed to catch up with the politician who's more serious about becoming the next prime minister, who has 30% of the votes in the latest polls, his name is mr. bercani. you know him. we'll show you that in the next hour. now it is time for your "global markets report." >>> all right. thank you very much. we are slightly weighted to the upside here. the european equity grind-up rally continues. advances outpaced decliners about 5-4. the dow jones 600, the ftse flat up three points. the dax
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, so how will he foot the bill? is a fat tax like the one that they have in europe the way to do it? a vat tax? a value added tax? is that story coming up next. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quily spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> when you start talking about an issue of treatment of mental illness, the mentally ill should they have access to guns? well, there is a rational response that most americans have somebody who is not thinking clearly should not have a gun in their hands. but how do you define and that codify that into law? that's a much trickier issue. david: that was scott rasmussen with the latest poll on gun control and do
? >> not necessarily. we would stay with dividend payers. we would also dip our toe into europe into some very high-quality, multicountry stocks there. mostly on consumer discretionary stocks as well. >> george, we haven't forgotten you yet. scott, i have a question for you. just noticed today france and germany's stock markets hit 52-week highs. we're still wringing our hands over the debt crisis, and the equity markets are hitting new highs for the year. is it too late to get into those markets? >> i don't think so, bill, at all. all the european markets are up for the year except portugal, which is up slightly. even greece is up year to date. i don't think you're too late on that trade at all. in fact, i think, quite frankly, the structural changes that are happening in europe could produce growth for many years come. >> where are you putting money to work, george? >> the fiscal cliff is sort of the uncertainty du jour. people are always worried about next uncertainty. you need to blow past that and think about where the next good stocks going to be, how can i invest, how can i participate? taxe
conference in just a few hours. as for europe, some green arrows, despite a miss in the eurozone in production this morning. >> the road map starts this morning with, of course, the fed. expectations for revamped bond buying program. what will the economic forecast say about next year and what to make of the "wall street journal" story that says academics are driving monetary policy at secret dinners in switzer land. >> more counteroffers in the debt negotiations. it looks like corporate taxes are part of the deductions. >> costco beats by 2 cents, better sales and better sales and membership fees. >> some more reports about apple tv today. the journal said it's designing a high -- new high-resolution set. microsoft trying to widen the list of retailers that will carry the surface tablet. the fed is going to wrap up its two-day meeting. a watch is on to see if ben bernanke and policy makers make a decision about the interest rates. later on, the chairman will hold a news conference, and of course, cnbc, will bring it to you live. coverage beginning at 2:00 p.m. eastern. jim, a lo
not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the market fade if there's no news tomorrow night? >> the nikkei continues its 21-month run. how much is the boj willing to put up with? >> looking a at potential strike in the nation's port on the east and southern coast, the first since '77 that could cost retailers and importers billions. businesses now asking its white house to get involved. >>> you can now get the nokia lumia for free, depending on the service provider contract you sign s that standard practice or a sign the company's flagship phone suspect selling well? >>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry rei
to ship it from the gulf coast up to new york. you can actually ship it overseas to west africa or europe for probably a fraction of that. so even though the northeast is a little bit tight on gasoline, it costs so much to ship in u.s. vessels right now that some of the gasoline that might ordinarily come to the other parts of the country is going to places like nigeria, asia, europe, you name it, and that's unusual and it has to do with a shortage of american flag vessels. dagen: i'm surprised politicians aren't talking about that. but instead they are trying to deal with the tax increases and spending cuts. if they don't get a deal done on that, will we see any impact in the crude and also the gasoline markets? >> oh, absolutely. if the fiscal cliff, if we go off of it, i think we will see crude oil prices come down substantially. my thought is though if we don't do that, if we have a short-term fix, that you will see a lot of hot money come back into the market and park itself in commodities and oil is always a favorite. so if you're rooting for the fiscal cliff, you might be rooting f
, europe falling apart helping the u.s. markets. >> ed, great to have you on. thanks a lot. >> thank you for having me. >> the duke and dutch chess of cambridge are expecting a baby. wonderful news. a spokesman says both families are delighted with the news. a lot of speculation saying she had a suspicious there would be an announcement. there you go. a royal baby on the way. >> martha knows more than anyone should. sales check coming up, how many are willing to get up for a new car. >> fill job openings for the holiday, you can't find anyone willing to work the lines. how about the donald as moderator? we talk with neil cavuto about the idea of putting debt negotiations on tv. check the markets, the oil market in particular, as we head off to break. ♪ there is no mass-produced human. every human being is unique. and theris one store that recognizes it. the sleep number store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally dividualize your sep perfectly comfortable pillows that adjust
right after the open. as for the action in europe, taking its cues from the united states. we'll see a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking
. >> that we're just relieved, and that you don't get the huge bounce. but europe is also tracking what we're doing here. as it should really. our economy is much more important to the globe than what happens in any of those little economies over there. the shares drifting higher in early trading on expectations that a budget deal is closer. in asia, japan's nikkei rising above the 10,000 mark, wow, the first time in more than eight months. still a ways from 50,000. among the catalysts, expectations of more aggressive monetary stimulus from the bank of japan. the boj wraps up a two-day meeting with a policy announcement tomorrow. >>> the world bank in the meantime is raising its 2013 economic growth forecast for china and for developing east asia. the organization says that the region remains resilient despite the lackluster performance of the global economy. the world bank sees china expanding by 8.4% next year. it's expecting that it will be fueled by fiscal stimulus and the faster implementation of large investment projects. today's forecast is higher than an earlier one that was sited
. didn't raise the maximum amount. that's where we stand. it's another cautious day under way in europe. back to you guys. >> might get my haircut like hers, ross. you know, that anna wintour. that bizarre -- do you think you can manage it? >> a page boy. >> you think you carry that one? >> you'd look awful. >> you know what? we're going to do it. >> you're asking these guys to put me -- >> you'd look good in that one from "dumb & dumber." >> yeah. i make that sound. the most annoying -- you want me to do that? >> no, we don't. >> morgan stanley is trying to bolster lending. some advisers are said to have left the firm due to a lack of lending capacity. you didn't bargain for this, did you? we're asking you about your company. is that okay? >> absolutely. >> greg funding -- we already know he joins us. you did provide investors with an update. >> yes. >> ross, you want to get into this conversation as well? you hear him? >> he's gone. >> he's gone now. our audio guy is drinking or something. what did you tell them? >> i told them that we have a great business in wealth management. we've
right now at where things stand in europe, you'll see that the ftse is barely higher. but you do see a bit of a decline for germany and france and modest moves across all of these markets. the bank of japan easing monetary policy again today, announcing an increase of its asset buying and lending program by more than $118 billion. that move was widely expected as part of the reason that you had seen the yen under quite a bit of pressure, yesterday, at least. you'll see right now that in japan, the market there actually closed down by just over 1%, 1.2% almost. the hang seng and the shanghai composite were slightly higher. oil prices this morning, you'll see right now, are down by about 4 cents to $89.94, so you have things to pick up in those prices over the last couple of days. and the ten-year note at this point which yesterday was yielding above 1.8%, dropping down to 77.2%. finally, take a look at the dollar and gold. yen is at 83.99. gold prices this morning with all these movements in the currency markets up by about $1.10. >>> winter storm draco is moving across the united sta
of europe and partly because of this fiscal cliff. i also told you about an american economic renaissance that could be just ahead. just beyond the storm clouds. the fiscal cliff is fixable. every day washington fails to make a deal, more damage is being done. john king, ken rogath is the former chief economist at the international monetary fund and diane swonk joins us from mezro financial. john, some people say don't sweat it. the threat of going over the fiscal cliff is overblown. it will get done in an 11th hour deal. as you read the politics at play, what do you see? >> both sides digging in. you played the president saying, i want that rate hike. the republicans say we'll give you the revenues but not through a rate hike. the president believes he won the election and he upped the ante saying he wants twice as much in tax revenues than he wanted a year and a half ago. the president believes he has higher ground under this. i think maybe the democrats have a deeper trench, if you will. they have public opinion on their side. if you talk to people in washington there is a sense that a
last time you liked europe. what about here in the united states? what would you buy here? >> well, i wouldn't buy anything if i haven't bought it already. i would sit around and wait. you've got she nan nanigans goi in washington. there are 535 people who have to think i want to keep my job. they'll decide to rise above. this is all going to be wonderful. in the meantime, if you're trying to figure out which way to go, i have traders out here who will tell you every day very difficult thing to do. >> isn't that the case. for sure. >> sandy, weigh in here. what would you be doing? >> actually i take a little bit different view. this fiscal cliff is a grander issue than just the united states. the drag in the u.s. is a big import to the rest of the world. stock markets are supposed to be leading economic indicators. if you look at the markets around the world from the last several weeks to months, the markets seem to be indicating just the opposite. they seem to be indicating that a deal will get done. what kind of deal whether it's one stage or two stage, nobody knows. but the fact of
, we're going to get those types of storms and europe will particularly suffer from them. but when you get a hurricane embedded within one, then you get double dose and that's what happened with sandy and that kind of thing will happen, too if we get stronger cyclonic storms. and the damage goes like the cube of the wind speed. so it's not like -- you know, if the wind speed had been 10 miles per hour less, we wouldn't have had all that damage. those trees have been standing there for centuries. these were really big trees on our property. so there haven't been storms like that, or those trees wouldn't still have been there. >> and was there a human fingerprint on sandy? could you say how much climate change contributed to the ferocity and the intensity of sandy? >> well, there's a human fingerprint in several ways. the ocean was unusually warm along the eastern seaboard and it was warmer by more than the global average, so people are saying, oh, you can only credit one quarter of that to global warming. well, the warming, it's like, these extreme events that we're getting, we're getti
're beginning to look a little like europe. they are punting. >> the market, as we saw in europe, they rallied the market ahead of what they thought was going to be a deal, kicked the can down the road. in fact, if that's the case. michael may be right there's going to be a framework but not a deal, yes, we rallied the market, they will become disappointed and take it back. >> that's not the case. if you look at what's happening, economy better, earnings solid, interest rates are low. the fed probably this week will announce they are going to continue their policies to flood the system with money. >> but there's your answer. the fed is going to keep pumping the system with money. fundamentally are we really where we should be. >> we're not talking about fundamentals. we're talking about what the market is going to do. there's reality and what the market is going to be. if there's free money, we might be broke but there's free money. >> all right. that sounds like a good recipe. michael, we'll have you back later in the hour. >> kenny, do you buy into the rally. >> you buy into the rally becaus
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